LaunchLab alumnus company Freeman Capital has recently scored some high-profile investment wins. Launch Greensboro advisory board members Kelli Frazier and Clifford Thompson, as well as Assistant Director Jenn Hensel, sit down with Freeman Capital founder Calvin Williams to discuss how he continues to grow the first black-owned, SEC-registered, automated wealth management platform.
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This episode is sponsored by Truliant Federal Credit Union
Visit Truliant here
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Today’s hosts are Clifford Johnson, Kelly Fraser, and Jenn Hensel of Launch Greensboro, the Chamber’s entrepreneurial accelerator program.
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00:58 - Clifford introduces his fellow hosts, Kelly Fraser, member of the Launch Greensboro Board of Advisors and Jenn Hensel, Assistant Director of Launch Greensboro. Launch Greensboro is an organization under the Chamber that provides Triad entrepreneurs with education, mentoring, and access to capital. Jenn shares some additional background about their guest, Calvin Williams, the founder and CEO of Freeman Capital, a second-time entrepreneur, and a member of the 2016 Launch Lab Growth Accelerator cohort.
02:43 - Calvin shares more about Freeman Capital’s mission of closing the wealth gap, working via automated recommendations and personal, one-on-one financial planning, all for the price of Netflix! He shares his background and how his family and their financial mindset inspired this career path for him.
05:47 - Kelly asks how Freeman Capital is coping in COVID. Calvin feels comfortable in the virtual world, having always worked with remote clients and seeking out the best talent for his company, no matter where in the world they were located. COVID simply accelerated the proof that remote, affordable financial planning works and works well!
07:55 - Kelly inquires about Calvin’s experience of growing in his business and finding success, then realizing that he had to pivot and change his business to move in a different direction. This experience showed Calvin the inequalities and differences of access in the business world. Most financial planning businesses are built off of large assets, which excludes a huge number of customers, and in that, he found his customer base - regular people looking for accessible education on financial planning and seeking to grow their wealth.
12:33 - Calvin speaks on the life of an entrepreneur, how he manages the ups and downs, and keeps the vision of the future in focus. He envisions every next step and what he wants to achieve to find the spiritual energy to keep going. During the challenging times, he finds his fuel in serving people and hearing that his business is fulfilling the need that they were searching for.
14:34 - Clifford speaks on the issue of wealth inequality in the US and how several companies have come forward to try and tackle this challenge. He asks Calvin how Freeman Capital is disrupting the market differently and stands out amongst similar firms. Calvin emphasizes that on his platform, they are giving advice, education, and individualized strategy, rather than just commission-free trades. Creating a plan and understanding to build wealth are defining factors of his business.
18:00 - Jenn reflects on Calvin’s particular entrepreneurial path, asking about his process of iteration in developing his business. Calvin is motivated by the family saying of “If something bothers you, then it’s your responsibility to solve it.” Rather than complaining or finding frustration with something, Calvin is driven to find a solution to benefit himself, his children, and his customers.
22:42 - Jenn asks Calvin to share some of the wins that he really cherishes, the ones that really stand out and make it all worth the journey. Calvin explains that the wins come from when others see and recognize the changes that he’s doing, the work that he and his employees are putting in. He is most inspired by his team and their loyalty, their hard work, and their dedication to making Freeman Capital a success.
26:54 - Clifford asks Calvin to share a client story where he realized that he helped make an impact on their financial life. Calvin speaks to helping a younger person figure out how to achieve paying his student loans, save for a house, and build his retirement all at the same time, and give that customer the tools, knowledge, and partnership to reach those goals in a manageable amount of time.
30:35 - Calvin shares some exciting updates for Freeman Capital, including that they received their first venture capital check and are also receiving a grant from Google for Startups!
31:27 - Kelly asks Calvin about how Launch Greensboro has impacted his entrepreneurial journey and his experience with Launch. From finding out about the program on Twitter to learning about the gaps in his business plan, meeting his current CFO and accelerating his knowledge about raising capital, Calvin has been able to really propel his business because of the access, network, knowledge, and programs.
34:06 - Calvin shares a call to action for his community - if you don’t have capital or funding opportunities, Calvin emphasizes networking to access Freeman’s target market, and developing relationships with other experts and influencers to continue increasing their knowledge base and problem-solving power.
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Freeman Capital’s Website: https://freemancapital.co/
LinkedIn: https://www.linkedin.com/company/freemancapital/
Instagram: https://www.instagram.com/freemancapital/
Twitter: https://twitter.com/FreemanCapital
Find Calvin Williams Jr. on LinkedIn!
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